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Top executives of the Securities and Futures Commission and the Capital Market Authority of Saudi Arabia met in Hong Kong on Tuesday to advance dialogue on regulatory collaboration and drive progress towards increased market connectivity.

The CMA’s chairman Mohammed bin Abdullah Elkuwaiz led a delegation of senior executives, heading Saudi asset managers on their first official visit to Hong Kong, according to a statement from the SFC on Wednesday.

Strengthening regulatory ties with key global markets is integral to the CMA’s strategy to advance the Saudi capital market’s international integration, said Elkuwaiz.

During the bilateral meeting, the SFC’s chief executive Julia Leung Fung-yee emphasized that both the SFC and the CMA shared the vision of developing markets through collaboration and diversification, while the two sides have abundant room to deepen ties to unlock further potential for both Hong Kong and Saudi markets.

“We look forward to strengthening ties with Saudi Arabian markets to reinforce Hong Kong’s role as Asia’s premier capital intermediary amid a fast-evolving global market landscape,” she said.

Following the meeting, the regulators co-hosted a Saudi-Hong Kong asset management roundtable to facilitate further dialogue among leading asset managers from both markets.

Addressing the participants at the roundtable, the SFC’s chairman Kelvin Wong Tin-yau highlighted the need to strengthen global regulatory collaboration, especially within Asia.

About 30 senior representatives from the city’s leading industry associations met with their Saudi counterparts to discuss mutually beneficial initiatives su

SFC and Capital Market Authority of Saudi Arabia meet to advance regulatory collaboration